Veterans of 2011 U.S. debt-ceiling fight see tougher battle ahead
WASHINGTON, Jan 31 (Reuters) – A Democratic president. A new Republican majority in the U.S. House of Representatives pushing for sharp spending cuts. A rapidly growing pile of debt – and a showdown that threatens to throw the global economy into turmoil.Sound familiar?Those elements driving the debate over raising the federal government’s $31.4 trillion debt […]
Fed’s words in focus as markets bet rate hikes will soon end
Jan 30 (Reuters) – U.S. central bankers have unambiguously telegraphed this week’s policy decision: a quarter-of-a-percentage-point increase in their benchmark interest rate, the smallest since they kicked off their tightening cycle 10 months ago with one the same size.Less clear is whether they will continue to signal “ongoing increases” ahead for the policy rate as […]
Biden says no F-16s for Ukraine as Russia claims gains
Russian administrator claims foothold in VuhledarKyiv says Russian gains come at huge costThink-tank says delay in Western arms halted Ukraine’s advanceKYIV, Ukraine/WASHINGTON Jan 30 (Reuters) – The United States will not provide the F-16 fighter jets that Ukraine has sought in its fight against Russia, President Joe Biden said on Monday, as Russian forces claimed […]
China aims to boost consumption and imports as global demand cools
BEIJING, Jan 28 (Reuters) – China’s cabinet said on Saturday it would promote a consumption recovery as the major driver of the economy and boost imports, state broadcaster CCTV reported, at a time of cooling global demand as major economies teeter on the brink of recession.At a meeting chaired by Premier Li Keqiang, China’s state […]
Strong U.S. economic growth expected in fourth quarter, outlook darkening
Fourth-quarter GDP forecast to increase at a 2.6% rateStrong consumer spending seen; other sectors to contributeWeekly jobless claims expected to rise moderatelyWASHINGTON, Jan 26 (Reuters) – The U.S. economy likely maintained a strong pace of growth in the fourth quarter as consumers boosted spending on goods, but momentum appears to have slowed considerably towards the […]
U.S. inflation roller coaster prompts fresh look at long-ignored money supply
NEW YORK, Jan 26 (Reuters) – The amount of money sloshing around the U.S. economy shrank last year for the first time on record, a development that some economists believe bolsters the case for U.S. inflation pressures continuing to abate.The Federal Reserve’s main measure of the nation’s money stock – known as M2 money supply […]
Japan warns of dire finances as BOJ struggles to contain yields
Japan’s finances intensified severity to unprecedented pointRounds of extra budget, stimulus measures aggravate financesPublic finance is the cornerstone of a country’s trust – finminEconomic revival comes first before fiscal reform in long runParliament debate begins, all eyes on new BOJ governor nomineeTOKYO, Jan 23 (Reuters) – Japan’s finances are becoming increasingly precarious, Finance Minister Shunichi […]
Brazil and Argentina to discuss common currency
BUENOS AIRES, Jan 22 (Reuters) – Brazil and Argentina aim for greater economic integration, including the development of a common currency, Brazilian President Luiz Inacio Lula da Silva and Argentine leader Alberto Fernandez said in a joint article they penned.”We intend to overcome the barriers to our exchanges, simplify and modernize the rules and encourage […]
China’s 2022 economic growth one of the worst on record, post-pandemic policy faces test
China Q4 GDP growth slows; 2022 growth one of worst on record2022 GDP grows 3.0%, far below official targetDec factory output, retail sales weak but beat expectationsPopulation shrinks for the first time since 1961Policymakers vow to step up support for economy in 2023BEIJING, Jan 17 (Reuters) – China’s economic growth in 2022 slumped to one […]
Analysis: Bank of Japan’s yield curve control in danger as policy backfires
BOJ’s hope to buy time with wider yield band backfiresBoard to debate market distortions at Tuesday-Wednesday meetingMany in BOJ prefer to stand pat, some open to tweak – sourcesDec inflation seen hitting 4.0%, more pressure for BOJTOKYO, Jan 16 (Reuters) – The Bank of Japan (BOJ) is under pressure to change its interest rate policy […]